Once upon a story is a great way to get people excited about a good story. You can capture this spirit in both a bedtime tale and a pitch for investors.
"Startups often make the mistake of believing that everything is about data and technology," said Donna Griffit. She's a marketing consultant, and the author of "Sticking to My Story": The Alchemy of Storytelling For Startups. She said that the "most important part of their investor pitch" is the story they tell.
The first tip Griffit gives for investors pitch presentations is to avoid "tech babble and jargon."
Talk to investors as if you were having a conversation. She said that the best way to engage investors is by telling a story. Find out your story of origin -- what inspired you to start your business?
Griffit advised that you should find a way to clearly explain the solution your product or service offers to the problem it solves. "Show us your product from the perspective of a user's journey." You can already elevate your pitch if you do these three things.
Griffit says it's important to "think about your story in terms of the questions investors want answered." "How does this product differ from others?" is a good example. What will be the impact of this on the market? How will you make money?" "How will you scale up?"
She advised to always consider the perspective of your listener. It's one the most important secrets to success. Your product, technology or solution will not be appreciated unless you first demonstrate why people need it.
Rachel Konrad said that no one would fund "technology just for the sake of technology". She is the chief brand officer at venture capital firm The Production Board. Konrad says that if you cannot explain your strategy and mission in a few sentences, investors will not give you a dime.
Graham Ober, vice-president at Revolution Ventures advises to not rush through your presentation, but be succinct. Ober advised: "Don't rush through your presentation and make sure you cover the basics."
Ober's deck structure suggests that the overview, the hook and the problem are followed by the solution and the conclusion. Then, you should address the technology, market size, and competition. Finally, present your go-to market strategies. Highlight your team's achievements and include milestones and projections.
Griffit advised not to wait for good news. Include a "brag slides" in your pitch presentation.
She said that in your slides and conversations, you should emphasize your credibility and likability - that you are coachable and flexible - as well as momentum - meaning the distance you have come so far.
Ober advised investors to prepare an elevator speech or, better yet, to create a two sentence pitch they can explain to their partners following the presentation.
Ober suggests a framework for identifying the target audience, product need and key benefit. Describe what makes you different from your competition.
Konrad advises explaining why other startups and well-funded incumbents will find it difficult, if not impossible, to beat you.
She says that you should never exaggerate, but instead back up your claims during the due diligence procedure.
Griffit explained that investors want to invest in stories that are bigger than life.
She said, "They want the founder to aim for something bigger than they can imagine." How big can it get? What are the future markets and products you will address? "Take them on an exciting journey that will make them want to be a part of the deal."
A good storyteller will give your investment pitch the best chance of receiving funding, and your business will live happily ever afterwards.
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